MACRS Depreciation Calculator

News: 02/20/2011 This calculator has been enhanced to reflect the tax law changes passed by Congress in 2010. Section 179 depreciation limits have been changed and "bonus depreciation", if any, is reported as a separate item. Additionally, we have added a new Section 179 benefits calculation. This calculation shows the after tax cost of an asset (or items within an asset class) allowing for the expanded Section 179 depreciation and bonus depreciation.

The Modified Accelerated Cost Recovery System (MACRS) is used to recover the basis of most business and investment property placed in service after 1986. MACRS consists of two depreciation systems, the General Depreciation System (GDS) and the Alternative Depreciation System (ADS). Generally, these systems provide different methods and recovery periods to use in figuring depreciation deductions.

Our MACRS Depreciation Calculator prepares a depreciation schedule using either GDS or ADS methods of depreciation. The calculator fully supports 200% and 150% declining balance methods as well as the straight line depreciation method. Mid Month, Mid Quarter and Half Year conventions are supported.

After the terrorists attacks in New York and Washington DC in 2001, the US Government gave preferential treatment to some assets placed into service in special designated areas known as "Liberty Zones". This calculator fully supports "Liberty Zone" calculations as well.

As with many of our calculators, users can save their work to a file or print out a schedule for later review.

This calculator has been tested against the examples in IRS Publication #946. Many tax professionals find this tool useful to confirm other calculations or for providing quick financial advise to clients.

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Section 179 Depreciation Calculator screen

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